A whale withdrew 19,800 ETH ($38.29M) from Binance and deposited it into EtherFi staking.
DeFi & Yields ·
A large Ethereum holder moved 19,800 ETH (valued at $38.29 million) from Binance to EtherFi staking in a series of transactions across two days. According to on-chain monitoring, the transfers occurred on July 20 and July 21, with the whale executing four separate withdrawals: 100 ETH and 9,900 ETH on the first day, followed by 2,800 ETH and 7,000 ETH on the second.
The move reflects continued capital inflow into EtherFi's liquid staking protocol, where users can stake ETH while maintaining token liquidity through wrapped derivative positions. Large whale deposits of this size typically signal confidence in a platform's mechanism or terms, though the timing and denomination across multiple transactions may reflect execution strategy or risk management rather than a single commitment.
The full deposit history and on-chain address (0xf23c9B89700CD03fB602f3D076086F9b9d19A2Ca) are publicly verifiable, but the whale's identity and motivation for choosing EtherFi over competing staking services remain unknown.